Gloucester company Benefact Group has appointed Mark Bennett as its new Chief Financial Officer (CFO).

Headquartered in Gloucester Business Park, it is the parent company of specialist insurer Ecclesiastical Insurance and responsible and sustainable asset manager EdenTree, both based in the city.

Owned by charity the Benefact Trust, it is made up of a group of specialist financial services businesses, with a common purpose to give all available profits to charity and good causes. It is the third biggest corporate donor in the UK.

Mark took up the role of acting group CFO, alongside his role of group chief actuary, in July when his predecessor Denise Cockrem retired.

He will step into the role formally in January and join the Benefact Group and Ecclesiastical Insurance Boards, pending regulatory approval.

The appointment follows an extensive search internally and externally.

Mark Hews, group CEO of Benefact Group, said: "Mark was the standout candidate for the role. During his tenure as acting group CFO he has made remarkable contributions and his leadership has been instrumental, not least in developing our new financial and capital plans.

"Mark's career progression over the past 17 years is an inspiring story. At Benefact Group we offer careers with purpose, and we support and reward our talented people."

Mark joined the former Ecclesiastical Insurance Group as an actuarial student in 2007. He progressed through the ranks, graduating from the leadership development programme to lead various actuarial teams before overseeing reinsurance, risk and compliance and investments. He led the group's regulatory internal model approval in 2018 and has overseen several group wide initiatives that have been key in unlocking profitable growth.

In his new role, he will be responsible for the group finance, risk, actuarial and premises teams at Benefact Group and will spearhead strategic initiatives that support its ambitious long-term plans to grow its business and reach its target of raising £250million for good causes.

Recruitment will now begin for the role of group chief actuary, who will report into Mark..